I recommend that you go very deep and become an expert in multifamily before you buy anything.

The cleaning people have keys for the storages to get all they need.We had a deep cleaning with exam on Sunday: dust under beds, furniture, on fan, lights...; food under kitchen applicants, furniture...

My biggest advice for you is to go scary deep into each type of investment strategy you outlined.

My current rental property has a tenant moving out end of this month after staying there for 5 years and the 2F carpet(living area space, 3 bedrooms, and entire staircase) is really dirty and patchy leaving me three options that make sense: either replace all the carpet, replace the living area and stair carpet space but keep bedrooms as is, or deep clean it all at ~$450.

It could be a disaster to get 700k deep on a house just to not be able to rent it out and be stuck. 

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...Your biggest question shouldn't be WHERE to invest, but HOW you will invest!

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...Your biggest question shouldn't be WHERE to invest, but HOW you will invest!

Although, be aware that in MOST cases, the PMI still applies for the first couple of years.....and at least until you have 20% equity.And yes, the lower the mortgage payment and longer the terms (30 years) the more breathing room you'll have as a landlord and potential for cash flow.

Al 2 bed 2 bath units with updated open kitchens and modern baths, some with deep tubs!

You will see plenty of great opportunities around once you dig deep.